|
Getting your Trinity Audio player ready...
|
It is no longer news that the COVID -19 has had a devastating effect on small businesses globally. Many Countries have introduced significant buffers to help these small businesses survive in these trying times. But it is definitely very cheering news that Africa’s Largest economy – Nigeria whose largely informal economy consists of many small and medium enterprises, has finally instituted a deliberate scheme to help small businesses stay afloat in the COVID -19 era.
The Federal Government of Nigeria has released the guidelines to access the N75 billion Micro, Small and Medium Enterprises (MSME) Survival Fund and Support Initiatives, which took effect from 21 September 2020.
The scheme, which is the core of the N2.3 trillion stimulus package of the Nigerian Economic Sustainability Plan includes the N60 billion MSMEs Survival Fund and the N15 billion guaranteed off-take Schemes.
The application for MSME funds for business owners in the education sector, hospitality and other businesses has already started since 21st September 2020 and will end on the 15th of October 2020.
Think you qualify for this fund? Hit the link: www.survivalfundapplication.com
